OpenAI raises $8.3 billion as paid ChatGPT business users reach 5 million

OpenAI has secured $8.3 billion in new capital as part of its $40 billion fundraise, according to a person familiar with the transaction.

The fresh capital comes as the artificial intelligence company’s business accelerates.

Annual recurring revenue jumped to $13 billion, up from $10 billion in June, said the person, who spoke on condition of anonymity to discuss confidential financial information, and is projected to top $20 billion by year-end.

Paid business users of ChatGPT have climbed to five million from three million just months ago, they said. The round was completed ahead of schedule and was five times oversubscribed.

DealBook was first to report the transaction.